Long-term USDCHF overview suggest an incoming downtrend Short
U.S. Dollar/Swiss FrancFXCM
Description
⋅ The price broke the long-term downtrend a few months ago in a newer and less strong uptrend.
The two possible scenarios are,
- (1) The price goes low after the support and resistance levels come closer, giving the trader a 1:8 SHORT opportunity.
- (2) In a less likely scenario, the price continues to go high, signaling the end of a nearly 4 year downtrend.
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"Every once in a while, the market does something so stupid it takes your breath away." - Jim Cramer